Tattersalls July Sale 2009

inward buyers code of
EBF/BC conditions of sale
initiative practice
directory/services personnel contents
NOTICES TO PURCHASERS
12
NOTICES TO PURCHASERS
CONDITIONS OF SALE
These Conditions of Sale apply to all Lots sold at Tattersalls Bloodstock Sales 2009 February Sale
onwards. Tattersalls draw your attention to the Notices to Purchasers, Guide to Cataloguing Details
and Bloodstock Industry Code of Practice printed in each catalogue and to the Guide to Sales booklet
available at the Main Sales Office.
1. Parties
1.1 The Purchaser shall be the highest bidder acceptable to the Auctioneer subject to the right reserved by
TATTERSALLS to fix a minimum selling price at all or any Sales and subject to any reserve price.
1.2 The Vendor shall be the person or persons stated in TATTERSALLS sales entry form to be the
owner or owners of the Lot.
2. Conduct of Sale
2.1 All Lots offered for sale will be subject to a reserve price which shall be either the minimum selling price
or any higher reserve price in respect of which TATTERSALLS have received written notification from the
Vendor prior to the time at which the Lot is put up for auction.
2.2 As provided for by Law a seller of a Lot OR any one person on his behalf may bid for that Lot at
the auction. The seller shall mean the Vendor or, if different, the owner. Where however a Lot is
stated to be “Partnership Property” any partner, syndicate member, co-owner or other person
interested there in may bid on his own behalf either personally or through an agent.
2.3 The Auctioneer is the sole arbiter as to the existence or otherwise of any dispute during and/or in
connection with the conduct of the sale and if any such dispute arises the Lot so disputed shall
be immediately put up
again and re-sold.
2.4 The Auctioneer reserves the right without giving any reason therefore to reject or ignore any or all bids.
2.5 TATTERSALLS reserves the right to withdraw any Lot before or during any Sale without giving
any reason therefor.
2.6 It is the Vendor’s duty to ensure that written notification of any reserve price greater than the minimum
selling price is received by TATTERSALLS prior to the time at which the Lot is put up for auction.
2.7 Online bidding facilities may be provided by Tattersalls and, where provided, their use shall be subject
both to these Conditions of Sale and to TATTERSALLS’ Online Terms of Business. Vendors and bidders
are strongly advised to read these Conditions of Sale and TATTERSALLS’ Online Terms of Business.
3. Commission and Fees
3.1 An entry fee is payable to TATTERSALLS by the Vendor in respect of each Lot entered
and catalogued.
3.2 Commission is payable to TATTERSALLS by the Vendor at the rate of 5% of the price of each
Lot whether:
(a) sold or bought in by auction at TATTERSALLS Sales, or
(b) sold otherwise than by auction at TATTERSALLS Sales between the date of publication of
the catalogue for the Sale in which the Lot was entered and 28 days after the last day of that
Sale. Provided that for the purpose of sub-condition (b) above TATTERSALLS reserves the right
to substitute a fair price for any sale price notified to it or to determine a fair price when no sale
price is notified to it. Provided also that where a Lot is bought-in 100% by the Vendor and
(i) TATTERSALLS receive written notification to that effect by the end of selling on the day of
the buy-in, and
(ii) the Vendor instructs TATTERSALLS to publish the Lot as bought-in, then the rate of
commission is reduced to 2.5% unless the Lot was bought-in online in which event the rate of
commission remains at 5%. Full Commission is to be paid by the Vendor to TATTERSALLS on
demand in respect of any Lot returnable and returned to the Vendor.
3.3 An Auction fee is payable to TATTERSALLS by the Vendor at the rate of 2.5% of any reserve
price of any Lot. However, where the reserve price is 10,000 guineas or less no fee will be charged.
3.4 A withdrawal fee is payable to TATTERSALLS by the Vendor in respect of any Lot which is entered and
catalogued for a Sale and which is withdrawn prior to the time at which it is due to be sold in the Sale
unless a Veterinary Certificate to TATTERSALLS’ satisfaction is produced or unless commission is payable
under sub-condition 3.2(b).
3.5 Commission and Fees are subject to VAT or equivalent where applicable.
4. Bidding
The Auction will be conducted in Guineas. Subject always to the discretion of the Auctioneer no person to
advance less than 20 Guineas up to 1000 Guineas; 50 Guineas up to 2000 Guineas; 100 Guineas up to
5000 Guineas; 200 Guineas up to 10,000 Guineas; 500 Guineas up to 20,000 Guineas; 1000 Guineas up
to 50,000 Guineas; 2000 Guineas up to 100,000 Guineas; 5,000 Guineas up to 200,000 Guineas; 10,000
Guineas up to 500,000 Guineas, and 20,000 Guineas thereafter.